CIBC PRIVATE CLENT FUND LIMITED ANNOUNCES CHANGE OF DOMICILE AND SERVICE PROVIDERS TO THE FUND

CIBC Private Client Fund Limited (the "Fund") has changed its domicile from Guernsey to the Cayman Islands with effect from November 29, 2005. The Fund is now registered as an exempted company limited by shares under Part VII of the Companies Law (2004 Revision) of the Cayman Islands. The Fund’s registered office is now located in the Cayman Islands, c/o CIBC Bank and Trust Company (Cayman) Limited, P.O. Box 694GT, CIBC Financial Centre, 11 Dr. Roy’s Drive, George Town, Grand Cayman, Cayman Islands.

As a result of the change of domicile, all management, custodial, registrar and administrative services are being provided to the Fund by CIBC Bank and Trust Company (Cayman) Limited, which had previously provided certain administrative services to the Fund. New management, custodial and registrar and administrative agreements have been entered into between the Fund and CIBC Bank and Trust Company (Cayman) Limited on February 24, 2006, but with effect from November 29, 2005, having substantially the same terms and conditions as the prior management, custodial and registrar and administrative agreements of the Fund.

On the effective date of the change of the Fund’s domicile, the issued and outstanding Management Shares and Nominal Shares of the Fund were transferred from the predecessor Manager of the Fund to CIBC Holdings (Cayman) Limited, the parent company of CIBC Bank and Trust Company (Cayman) Limited, and will subsequently be transferred from CIBC Holdings (Cayman) Limited to CIBC Bank and Trust Company (Cayman) Limited.

CIBC Bank and Trust Company (Cayman) Limited is an indirect wholly-owned subsidiary of the Canadian Imperial Bank of Commerce, a Canadian chartered bank with assets exceeding Cdn$273 billion. CIBC Bank and Trust Company (Cayman) Limited is one of the largest trust companies in the Cayman Islands, offering banking, trust and investment services as well as mutual fund administration. It holds an unrestricted trust license pursuant to the Banks and Trust Companies Law, an unrestricted mutual fund administrator’s licence pursuant to the Mutual Funds Law and is authorized to conduct securities investment business pursuant to the Securities Investment Business Law of the Cayman Islands.

The current directors of the Fund are Wayne Bulpitt, Michael Francis Benedict Gillooly and Daniel Donnelly. Mr. Donnelly was most recently appointed to the Fund’s Board of Directors on July 28, 2005.